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Accounting Software - Complete Controller

Every business, whether large or small, must have a reliable accounting system. Some businesses will require hiring a professional accountant or bookkeeper, while others may require excellent accounting software. If you are a small business owner and on a budget, accounting software will be essential to efficiently running your company’s finances. Since there is more than one accounting software choice, here are the top six and what they offer to help you decide which is right for your business. Check out America's Best Bookkeepers

Quickbooks

Intuit’s Quickbooks is considered one of the best overall accounting software packages for business accounting. At one time, a fully featured software that could only be used with a one-time expensive purchase for your desktop, Quickbooks can now be used through the cloud and a monthly subscription. Quickbooks is also the most popular accounting software, so there are videos with tutorials and online guides. The best reason to use this software for your business is that it works well for various companies of all sizes.

A few downsides are that Mac users can’t get the full features on the cloud version and that if you have an issue, there are some incorrect answers on Intuit’s Quickbooks forums, which can make it difficult to solve a problem.

Xero

Xero is a cloud-first accounting system with over 600 integrations that help business owners with everything from inventory to payroll and much more. This software is more user friendly to Mac users when it comes to cloud-based accounting software. Xero can also track money and time spent on a project to give you the complete cost analysis. Xero is a monthly subscription accounting system; the cost will vary depending on whether you require premium features. Check out America's Best Bookkeepers

Zoho Books

Zoho Books is a simple accounting software that is user friendly and easy to use. It has integrated dashboards and graphs that keep the usability straightforward and doesn’t require you to be a certified accountant to understand. This software is only suitable for small businesses that don’t have many employees, inventory, or complex needs like larger companies have. It includes some great features like automated payment reminders for accounts payable and accounts receivable. It also has automated and manual features that help with bank accounts, project management, and inventory. This software is a monthly subscription that varies in cost, depending on what features the user needs.

Wave

Wave is free accounting software, and while generally, you need to live by the rule of thumb, “you get what you pay for,” this software is still good for accounting basics. This software allows you to perform bookkeeping functions for both personal and business finances in one place. But remember, it is free, so it does not offer some of the more in-depth features that other paid software has. While most of the basic features are free, Wave does charge for processing payments and payroll services. These services are similar in quality and what it offers as other paid accounting software.

FreshBooks Check out America's Best Bookkeepers

FreshBooks is a great accounting software meant for solo or freelance business owners. It is a light bookkeeping software that means tracking time, invoices, business reports, and payments. It is simple to use but does not have anything to deal with payroll or inventory. This is very basic, and if you ever grow your business from a sole proprietorship to a small business with employees, you will need to use different accounting software. It is affordable with a relatively low monthly subscription fee.

GoDaddy Bookkeeping

GoDaddy is not generally known for accounting, but the company obtained an accounting software company formerly known as Outright. Its features are similar to FreshBooks, but it is excellent for small, individually owned businesses since it has not payroll features. It is the least expensive software on the list (besides Wave, which is free.) GoDaddy Bookkeeping is excellent for tracking time and makes doing quarterly taxes a snap. The most outstanding features are the integrations it has with online sales platforms like eBay, Etsy, and Amazon, so if your business makes a lot of online sales, it is a great choice.

Conclusion

Accounting software can be the key to making sure your small business runs smoothly when it comes to financial tracking. The type of accounting software you choose will depend solely on your needs as a small business owner. Before choosing accounting software, take your time to determine your needs and use this list to help you decide which will be the best fit for you and your business.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
QuickBooks

QuickBooks is the top recognized accounting software used to manage customers, inventory, vendors, and finances. It is necessary to keep precise financial records, whether running a small business or a large organization. People are adopting this new technology to make their finance system more efficient, but it is essential to know whether QuickBooks will be beneficial for your business or not? There are some pros and cons of using QuickBooks, and they are as follows:

Pros: Check out America's Best Bookkeepers

  • User-Friendly:

QuickBooks is well renowned for being the most user-friendly accounting software for beginners and advanced accountants alike. This software can be easily used by people who do not have an accounting background while also containing all the functionalities and features that a pro accountant needs.

  • Integration:

QuickBooks can combine with other applications to handle accounting records efficiently. Also, a CSV or Excel file integrates into QuickBooks without any difficulty. The use of this feature allows you to make accurate accounts by creating several reports for multiple organizations.

  • Cost Efficient:

QuickBooks can be a great choice, especially for Small and Medium Enterprises (SMEs). It can be a less expensive approach instead of hiring a bookkeeper or accountant. The use of QuickBooks will help you to minimize your organization’s expenses.

  • The best option for Small Businesses:

For small businesses, QuickBooks can be an ideal choice and integrate with other programs. When your business is at its initial stage, it doesn’t require complex accounting. For such reasons, QuickBooks can be the ideal choice to opt for the following: Check out America's Best Bookkeepers

  • Supporting Network:

QuickBooks is considered a popular software for accounting purposes and has an extensive support network. This support network means that if you are facing any difficulty or any accounting issue, you can log into QuickBooks forums where you have access to experienced members. They can guide you through the stuff you don’t quite understand. They will help you to sort out your problems instead of contacting the manufacturer to resolve your issue.

  • Basics:

The first or initial version of QuickBooks offers various accounting features as per the requirements of small businesses. These features include accounts payable and receivables, inventory, payroll, and invoices. Also, you can process credit cards and create checks using QuickBooks software. Moreover, to check whether QuickBooks is perfect for your business or not, they offer a free trial period, so you don’t need to spend any money upfront.

Now let’s discuss some of the cons of using QuickBooks:

  • Not a perfect choice for Larger Businesses:

QuickBooks is not a perfect choice if you are running a large organization. If you have a company with more than 100 employees, then surely QuickBooks will not be able to serve you in the best way. For large organizations, there’s a need to develop internal software that can easily handle intricate reports and interlink to other departments within the organization.

  • QuickBooks is not a Robust Software:

QuickBooks does not come equipped with advanced features related to bookkeeping, which is the basic need for any considerable organization. These advanced features will help organizations run their businesses smoothly, but QuickBooks fails to provide such services.   Check out America's Best Bookkeepers

  • Limitations:

QuickBooks’ basic form is designed especially for the user who has limited needs both for finance and accounts. Hence QuickBooks do not propose all types of accounting processes that are being used by a qualified accountant. Also, QuickBooks has area limitations, including the number of items you can add to inventory drives.

If your business has complex accounting procedures and methods to manage inventory systems, then QuickBooks, for sure, is not a good choice as it may fail to meet your requirements.

Here are summarized Pros of using QuickBooks:

  • Efficient
  • Easy to use
  • Account reports regenerate easily
  • Flexible
  • Large support network
  • Low cost

Cons:

  • File size issues
  • Security
  • Upgrade costs
  • Limitations
  • Missing business-specific features

 

QuickBooks is user-friendly and well-known. It is used primarily for small businesses as it lacks advanced business features. The software has limited support for large organizations as far as sophisticated accounting methods are concerned. We hope that these pros and cons will help you to decide how to use QuickBooks in a way that meets your particular business needs. Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
excel to accounting software - Complete Controller

In most of the cases, small businesses begin their work using Excel. However, Excel is a practical choice, but up to certain limits. Therefore, organizations are required to evolve their software and grow. Excel is effective software and provides a large number of functions quickly. This ease is the main reason that in the world of business, Excel has great significance. However, whenever the application becomes sturdy, the spreadsheets created while no one using it. Therefore, most of the company is moving to accounting software for swift processing and working. Accounting software provides a large number of options for dealing with the financial information of an organization in the current age.

Business accounting associated with Excel’s Problem Check out America's Best Bookkeepers

There are specific problems with excel for business accounting, discussed below:

  1. Most of the small businesses forget this aspect of excel. The use of excel is quite common, and almost every individual using it; therefore, its usage does not restrict up to only experts. Moreover, the number of excel users made false judgments concerning their expertise in excel.
  2. It is a lengthy process to create excel spreadsheets that fulfill all the financial needs of the organization. The setting of invoice tracking and expense report also takes time. The employee often gets stuck in the situation of consistent making changes in the information set on the spreadsheet.
  3. Excel requires appropriate plan and knowledge, prior beginning work on it. Moreover, there is no flexibility in excel for later configuration. The individual should know that which cell be working for which part clearly. 
  4. It is quite easy to make changes in Excel spreadsheet without tracking the individual, who made changes. Therefore, it is not reliable. It can make a significant loss as well, for instance, if an employee replaces $1,00,00 with $10,000.
  5. While working with a large number of spreadsheets and data, excel often show performance issues. The system of excel becomes overload. Excel does not integrate with other business applications, which help make the business run.
  6. Another issue with excel is that it does not recognize double entries. Hence, it further makes trouble for its users. Check out America's Best Bookkeepers

Reasons for Betterment of Accounting Software than Excel

Specific reasons make accounting software better than excel.

Accounting software gives confidence to the user because its dashboard is quite easy to use. The individual will have a clear view of their financial status that makes it easier to make informed business decisions.

  1. There is a central place in accounting software for real-time financial data of the organization in the online cloud. All the lines of the bank statements are fed into the software automatically and rectify double-entered data and potential mistakes of the user.
  2. It turns longer waiting time for reports into shorter and provides most of the reports in just a few clicks. Additionally, it is quite easy to share and view budget and real-time reports. Similarly, many tasks, such as returning sales tax, could be accomplished in minutes.
  3. It creates information that investors can notify immediately. The small business of an individual will be well-equipped for the management of its finance accurately. This software is especially significant during tax hours when exchanging data with financial advisors or accountants. Information on business taxes is always up to date and ready to provide at any time.
  4. All the historical data that your investors might need will be at their fingertips. The appropriate control documents ensure that the data are not affected. Accounting software also records every transaction. This record includes sales contracts, payments to employees, and much more. A complete audit trail allows investors to understand the company’s effectiveness and meet the needs of tax authorities.
  5. Cloud-based software allows sync of financial data. Invoices, inventory management, and others would take time and avoid problems with a small business.
  6. It allows any member of the team to work from anywhere on its online data system. This software enables the user to share financial information with a financial advisor, account, and bookkeeping. Check out America's Best Bookkeepers

Accounting software makes the Business Grow

Although it is often difficult to change the way of doing business and accept the intervening changes; however, in such situations, the potential rewards are quite vast. Excel is not designed to replace accounting software. There is a particular drawback of the consistent use of excel that resolves by moving from Excel to accounting software. Therefore, it would be slightly better to move and make the business processes easier than going for a redundant option.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
online accounting software - Complete Controller

In most cases, online accounting software will not do everything you want. There will be things you cannot do (such as inventory) or things that could do better (maybe tax reports). Some of them can get resolution, and others can be added through third-party add-ons. The growing number of online applications for small businesses will be evaluated according to their ecosystem, not just immediately (or more precisely in cloud computing).

This evaluation is similar to how you choose your phone and operating system (Android, iOS, Windows Phone, Blackberry). They can have many essential features that are already built-in, but you can add apps and add features. Often there is less time available. Therefore, the software of online accounting software offers smaller businesses more benefits than the desktop accounting tools used traditionally. Following are some of the benefits of online accounting software: Check out America's Best Bookkeepers

Reduce Complexity

Cloud computing software for small businesses is easy to use by design. It is ideal for experienced or inexperienced business owners and more experienced professionals. Access books from anywhere, if you have an Internet connection. Most systems also support mobile devices, which provide access via tablets, smartphones, and PCs.

Multiple users can interact and process system data at the same time. All changes are saved immediately in the cloud. And because of the inherent fluidity of this accounting software, you can invite your accountants, financial advisors, and others to access your books remotely. This access will help when bookkeeping and leave the accounting notes in the system and collaborate more effectively with those who will help you succeed.

IT Simplified and Hassle-Free

Because the software is stored and managed in the cloud, IT activities (repair, update, and data backup) are managed by the suppliers.

How to Evaluate Online Accounting Software

Several options are available for choosing online accounting software. Business owners need to know where to start. Your accountant is the ideal starting point for valuable advice based on your budget and making sure you get the right features. Check out America's Best Bookkeepers

The typical characteristics of the online accounting software are:

  • Evaluation and formation of an invoice
  • Multiple payment options for online payments
  • Statement of income on wages and salaries
  • Warehouse monitoring
  • Tools for importing and tracking costs
  • One-click financial statements: seniority, losses and profits and tax ratios, balance sheet formation, etc.

Control panel reports provide a window for your business and also provides alerts and critical operations. Also, please focus on the software developer community (identify it as an accounting world equivalent to smartphone apps), described in detail below. Finally, if you decide to change supplier, find out how easy it is to transfer it from the platform. In the same way, what happens to your data once the contract ends?

Insufficient Spreadsheets

Theoretically, the budget and the initial plan can be completed in the table. During work, however, tables and documents can quickly lose control. Tables are almost impossible to navigate and are easily lost, and only one person can watch changes. If you have a shared disk to share a file, more people can edit or enter data, but the wrong move can be devastating. You should also not add documents that your company should follow. In terms of space, money, time, and organizational issues, it is worth investing in online software for small business accounting. Check out America's Best Bookkeepers

Economic Efficiency

Only traditional meters can receive real-time updates based on their financial situation, which may be more costly than real-time using online software. In fact, during the billing period, you can also calculate the time for selecting all physical files contained in traditional accounting.

Also, an average employee employs approximately 10,000 sheets of paper each year, equivalent to $ 80 ($ 52) per person per year. It not only generates significant losses for your business, but it also creates enormous environmental damage. By switching to online accounting to reduce the amount of paper used in your office while being more environmentally friendly, your business can save £ 100 each year (if not £ 1,000).

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

CLOUD ACCOUNTING TOOL: Cloud accounting is the same as traditional accounting and bookkeeping procedures done on an accounting software. The cloud accounting tool is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent to the server into a ‘cloud’, where it is processed and sent back to the user. All application functions are done off-site, into the cloud, not on the desktop. The accounting functions are done online and not on the desktop software. Internet or other network is used for the process. The users access the cloud accounting tool through a cloud application service provider. The software has not been installed on a computer. It can be accessed from any place in the world, provided the cloud application service provider is present.

Smart management and organization from everywhere:

Cloud accounting tools have got multi-user access. Having access to accounting and bookkeeping data anywhere and anytime in the world. You can spend time in other activities related to business operations or spend your quality time with family. You can go online to access cloud accounting software while sitting at home and keep yourself updated with the accounting and bookkeeping functions in your business. An up to date view of the financial status of the business to make the right decisions at the right time. All team members can access required information whenever and wherever needed. A better relationship is built with the accountant. You can access accounting data online, and then give a quality time to your accountant for discussion related to business bookkeeping.

1. Relationship with vendors improved:

For small business owners, vendors are important. They play a vital role in the success of small business. Small business owner wants to have a pleasant relationship with vendors and suppliers. Relationships with the supplier is often disturbed by late payments. A Cloud-accounting tool prevents this situation. A business owner can easily search the status of the bill and can advise for quick payments.

2. ECO-Friendly system:

Go paperless in accounting and bookkeeping. This step is eco-friendly too. Paperwork takes a lot of time for the accountant and business owners. Small business owners do need time to interpret accounting information. Accounting software makes it easy to interpret accounting information. Cloud accounting tool reduces upfront business costs. You do not face regular maintenance and upgrading the system.

 

 

A Few Cloud Accounting Tools and their benefits

Here are five cloud-based accounting tools with reasonable price for small business owners.

  1. FreshBooks

You can access it from the desktop computer and mobile phones. It makes easy to track expenses, make online payments, generating customized invoices, generating reminders of late payments, purchase history with time-tracking, client records, and management of different projects with different rates.

 

  1. QuickBooks Online

 QuickBooks is used to 

  • Generate invoices with the logo of your company and with all details required by the customers.
  • Processing payrolls according to HR policies
  • Managing all business transactions, including bills from suppliers and vendors
  • Inventory management
  • Tracking expenses.

 

  1. Kashoo:
  • Creating professional invoices
  • Categorization of income and costs
  • Connectivity with online credit cards and bank accounts.
  • Online Sharing of data with accountant

3.    Outright:

Outright is an online cloud accounting tool for small business owner and is used for tracking expenses, profit, sales, and customers. Bank accounts and others like PayPal, eBay, FreshBooks and web stores can be connected to outright and data can be easily exported from one to another app.

4.    Xero:

  • A dashboard with bank balances, expenses, and invoices.
  • Tracking cash flow in real time.
  • Data can be shared and accessible to accountant and others
  • Scheduling of Payments and returns

Apple, Blackberry, and Android applications are available. Many add-ons like CRM, invoicing, inventory management packages are also available on demand.

Conclusion:

Cloud Accounting tools make bookkeeping and accounting operations easy and less time-consuming. A Cloud accounting tool provides small business owners a great feasibility in accounting and bookkeeping at reasonable costs.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Paper boxes in a shopping cart on a laptop keyboard. Ideas about e-commerce, e-commerce or electronic commerce is a transaction of buying or selling goods or services online over the internet.
Usually, businesses invest a huge amount of capital into their inventory. Even though they have spent so much on their inventory, they tend to manage it through the use of spreadsheets. Just as the financial accounts are handled through bookkeeping software such as QuickBooks, the inventory needs to be managed using an appropriate software as well in order to ensure a smooth handling of data and business operations. 

Thanks to the incredible advancements in technology, there are a huge number of inventory manufacturing softwares that integrate bookkeeping to ensure that your data remains in one place and you do not have to switch applications or software to have access to your important data. When you have the right tools, you can plan your operations in a better manner and run your business efficiently.

The integration of both inventory manufacturing and accounting software enables you to optimize inventory management and gives you a competitive edge as you are able to plan effectively and execute operations with confidence. This also allows you to minimize the costs of labor and errors linked with manual entering of data.

In order to avail the maximum benefits, the integrated solution you choose should be flexible and in real-time whilst offering full transparency to users.

The key benefits of having integrated solutions include:

  1. Inventory will be optimized to meet ROI goals and product availability.
  2. Supply chain partners will be able to have access to your inventory information, knowing when to deliver.
  3. Enables you to create accurate financial reports.

Though there are several other benefits associated with the integration of inventories and accounting systems, the above-mentioned three will have a huge impact on your business. It will enable you to propel your business forward by effective planning and management of resources at hand.

Optimization of Inventory

Using an integrated software provides immense benefits to both the customer and the investor. Customers are always in search of ‘fresh’ products and investors do not like having any working capital stuck in inventory. Creating a balance between the two is a tricky endeavor, as storing extra inventory causes a lot of money wasted.

In order to plan and get the right amount of inventory, your sales order, purchase order, and other planning systems should have a clear view of your inventory that is in ‘real-time’.

Visibility for Supply Chain Partners

Several companies use supply-chain partners for effective stock and inventory management, along with the management of customer shipments. In order for effective management to take place, the inventory system must be linked with the business’s back-office systems, along with third parties such as suppliers. When the data regarding fluctuating stock levels is made available to your suppliers, they can ensure prompt delivery of goods whenever required.

Creation of Accurate Financial Reports

It is extremely crucial to make sure that annual financial reports and tax returns are accurate for investors and the government.  Most of your assets could be in the form of inventory value, therefore the assets stated in the report must reflect the physical value present in your warehouse. If you want to create accurate financial reports, you need to have an integrated solution that combines the inventory system transactions with the back-office accounts.

Here are the total features you will be able to access from an integrated solution that will enable you to achieve smooth business operations:

  1. Billing of Items
  2. Forming Assemblies
  3. Management of the Inventory
  4. Entering and Processing Orders
  5. Production Control
  6. CRM – Contact Management
  7. Kitting
  8. Scanning of Barcode
  9. General Ledger and Bank Management
  10. Configuration of Products

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

cloud-based accounting - Complete Controller

Cloud accounting is the same as traditional accounting and bookkeeping procedures but done on accounting software. The cloud accounting tool is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent to the server into a ‘cloud,’ where it is processed and sent back to the user. All application functions are done off-site, into the cloud, not on the desktop. The accounting functions are done online and not on desktop software. The internet or other network is used for the process. Users access the cloud accounting tool through a cloud application service provider. The software has not been installed on a computer. It can be accessed from any place in the world, provided the cloud application service provider is present. Check out America's Best Bookkeepers

  1. Smart Management and Organization from Anywhere

Cloud accounting tools have multi-user access. A user has access to accounting and bookkeeping data anywhere and anytime in the world. You can spend time on other activities related to business operations or spend your quality time with family. You can access cloud accounting software while sitting at home and keep yourself updated with the accounting and bookkeeping functions in your business. You have an up-to-date view of your business’s financial status to make the right decisions at the right time. All team members can access the required information whenever and wherever needed. A better relationship is built with the accountant. You can access accounting data online and then give quality time to your accountant for discussion related to business bookkeeping.

  1. Relationships with Vendors Improved

For small business owners, vendors are essential and play a vital role in the business’s success. The relationship with the supplier is often disturbed by late payments. A Cloud-accounting tool prevents this situation. A business owner can easily search the status of the bill and can advise for quick payments.

  1. Eco-Friendly System

Go paperless in accounting and bookkeeping. This step is eco-friendly, and paperwork takes a lot of time for accountants and business owners. Small business owners need time to interpret accounting information. Accounting software makes it easy to understand accounting information. Cloud accounting tools reduce upfront business costs. You do not face regular maintenance and upgrading the system. Check out America's Best Bookkeepers

 

A Few Cloud Accounting Tools and their Benefits

Here are five cloud-based accounting tools with reasonable prices for small business owners.

FreshBooks

You can access FreshBooks from a desktop computer and mobile phone. You can easily track expenses, make online payments, generate customized invoices, generate reminders of late payments, see purchase history with time-tracking, client records, and management of different projects with different rates.

QuickBooks Online

 QuickBooks is used to: 

  • Generate invoices with the logo of your company and with all details required by the customers
  • Process payrolls according to HR policies
  • Manage all business transactions, including bills from suppliers and vendors
  • Manage Inventory
  • Track expenses

 

Kashoo

  • Create professional invoices
  • Categorize income and costs
  • Connect with online credit cards and bank accounts
  • Online Sharing of data with an accountant Check out America's Best Bookkeepers

 

Outright

Outright is an online cloud accounting tool for accounting software and is used for tracking expenses, profit, sales, and customers. Bank accounts and other sites like PayPal, eBay, FreshBooks, and web stores can be connected to Outright, and data can be easily exported from one app to another.

Xero

  • Dashboard with bank balances, expenses, and invoices
  • Tracks cash flow in real-time
  • Data can be shared and is accessible to the accountant and others
  • Scheduling of payments and returns

Apple, Blackberry, and Android applications are available. Many add-ons like CRM, invoicing, inventory management packages are also available on demand.

Conclusion:

Cloud Accounting tools make bookkeeping and accounting operations easy and less time-consuming. A Cloud Accounting tool provides small business owners with high feasibility in accounting and bookkeeping at reasonable costs.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

Wooden road sign with text Payroll against blue cloudy sky.
Understanding QuickBooks Payroll can be a bit of a challenge for some. Whether you carry out the work of payroll on a desktop or in the cloud, you confront a lot of options that guide you with managing payroll according to your needs. QuickBooks is a widely used package by bookkeepers, accountants, and customers. However, there are many users who get confused when they see all of the options related to payroll. It is crucial to understand these beneficial options to carry out tasks effectively, without disturbance.

Desktop Payroll

For those who use QuickBooks desktop payroll, it is essential to know that there is no necessity to fill out the payroll tax form and it comes at a low cost. On the other hand, you can do on your own by filing the payroll tax and good job costing. The work related to job costing is easy in the version that is introduced in desktop. It is considered quite convenient for contractors who want to code for functions. The worker’s comp code can easily utilize all of these aspects in QuickBooks desktop payroll. The same feature is not as easy in QuickBooks online.

Full Service Payroll 

In the course of payroll, full service payroll is considered another effective option when clients are looking for some one rather than you. This is because they need someone to take responsibility for their tax payments and filings. In this respect, full service payroll takes the responsibility of federal and state payroll fillings as well as payments from the accounts of the user.  

Online Payroll

It is important to acknowledge that there is a great difference between QuickBooks online payroll within the domain of QuickBooks online. The most important aspect is that one must be sure that tax rates and previous payrolls are managed and recorded properly. It is essential because it is not easy to adjust them. However, this aspect can be easily sorted out through QuickBooks desktop. The other good thing about QuickBooks online is that they identify the names of their products in the format that you are using.

 Benefits of QuickBooks Payroll

QuickBooks, itself, contains a lot of benefits for small business. It is important to have command over QuickBooks payroll which makes the work easier for those who have a hard time managing accounts. This effective component helps a lot in the management of taxes and keeping the accounts clear regarding employee payments and the number of employees that are engaged in the business. The work can be easily managed on desktop and online. QuickBooks is easy for small business owners to keep appropriate records and proficient bookkeeping. The demand of QuickBooks payroll is increasing day by day because it is so easy to manage. The software is full of options that make it possible to carry out financial and tax work accordingly. It is becoming the first choice among small business owners. For those who are not familiar with the procedures, there are websites that can instruct them on how to get through the process. 

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

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Value Your Hard-Earned Money

The biggest misconceptions about household budgeting are spending less, compromising on your superfluity lifestyle, and financial restrictions on everything, which means no family hangouts, no shopping, and no vacations. Budgeting may be associated with a frugal lifestyle but it doesn’t have to be in reality. Budgeting doesn’t have to make you spend less but it surely allows you to spend smart, as it prevents you from overspending on less important items. Staying on top of your hard-earned money is essential for ideal budgeting because, without knowing your monthly expense limit, you cannot expect to have success. Similarly, you cannot expect to make better financial decisions and projections if you do not have a clear picture of your cash flow or finances.

Allocating Your Paycheck(s) Wisely

Although people may have different perspectives about household budgeting, no one can deny the fact that households can save a lot of money for hard times if they budget their monthly paycheck(s) properly. Households must set their priorities and budget their resources effectively in order to have a financially secure and stable future. Creating a household budget to limit certain extraneous expenses and knowing the actual status of your finances requires a lot of commitment, patience, planning, and wisdom. In fact, it is your motivation and determination that encourages you to save for your family to meet financial uncertainties and emergencies.

Budgeting Helps in Maintaining a Healthy Lifestyle

Cutting monthly expenses is certainly an intimidating task for most households, especially for those who have just tied the knot. You and your significant other ideally need to make a household budgeting plan right from the beginning in order to have a financially secure and healthy lifestyle. The need to manage your paycheck(s) has become more intense than previous times which means an ideal management of resources is nearly impossible without making a proper budgeting plan.

Household Budgeting Options

Households that cannot budget their paycheck(s) properly have two options to consider. 1) Hire a budgeting partner 2) Employ household budgeting software. Those who find it challenging and costly to hire a personal budgeting mentor can utilize advanced budgeting software to budget their monthly paycheck(s). All that you need to do is search and utilize the software that has the capacity to deliver you the best results and budgeting plan according to your needs.

Managing Accounts with Accounting Software

Have you ever wondered why so many start-ups fail to manage their internal and external finances? The reason is obvious. They most likely lack the accounting knowledge, skills, and abilities to manage their finances and reduce costs that can be avoided. Plus, they also fail to maintain an order in their cash flow (influx or outflow of cash). Sketching a clear picture of your financial standing may be hard but not impossible. Businesses also have two options to know the current financial position of their company. Either to 1) Hire an accounting professional or 2) Use accounting software.

Accounting Software Or Household Budgeting Software—Is There A Difference?

Yes, accounting and household budgeting software are completely different from each other but both serve the right need of their own respective domains! Accounting software helps business owners to reduce costly errors, minimize tax bills, repayments of debt(s) and, hence, help businesses of every scale to know the exact status of their finances for making financial projections. On the other hand, household budgeting software helps families to manage their monthly paycheck(s) and allocate their hard-earned income wisely.

Accounting and Budgeting—Done Right!

The best part is now you have access to the finest accounting/bookkeeping agencies that will not only help you to manage your accounts but also help you with household budgeting. There are also some companies that offer a discounted bundle of services or packages which can be cost-effective and reliable.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

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QuickBooks accounting software, designed by Intuit, is known for being one of the best accounting software programs on the market. Although it may not be the most important decision for small business owners, it is essential to differentiate between different suites of QuickBooks. Every QuickBooks software program offers different features that suit unique business operations. Rather than spending money on the wrong type, one should wisely compare QuickBooks Pro vs Premier to find out which version is best for their business.

When new to QuickBooks, it is not easy to differentiate between both editions as both have multiple attractive options. This article will help you decide on the best edition for your business. If you are looking for a desktop edition of QuickBooks, you are likely stuck between QuickBooks Pro and QuickBooks Premier for your small to medium scaled business. Before comparing the features of both editions, you must understand what QuickBooks is and how it can help you in your business operations. QuickBooks is known for being the smartest accounting tool for small business owners. Small to medium sized business owners prefer using QuickBooks for managing their accounting and bookkeeping processes such as paying invoices on time, accepting payments from vendors, and tracking inventory expenses in one single platform. However, before purchasing any product of QuickBooks, one should understand the following points:

  1. The features of QuickBooks products can change. Therefore, research the bookkeeping software just before purchasing any product.
  2. The products in a QuickBooks portfolio have nuances as there are very minor differences between each product.
  3. The products of QuickBooks can be discontinued or replaced with a different product by the developers. Therefore, carefully analyze the product before making any purchases.

 QuickBooks Pro

QuickBooks Pro is a product of Intuit’s QuickBooks accounting software that is designed with an aim to simplify the basic accounting tasks of small business management. Being the oldest product of Intuit in the business accounting range, QuickBooks Pro was created in early 2000. However, to date, QuickBooks Pro has evolved with the ever-changing needs of businesses today.

QuickBooks Pro is a complete software package for businesses who are aiming for a less complicated and more user friendly accounting system. The software does not have additional packages, however, this makes QuickBooks Pro more affordable than the Premier edition.

 Main Features of QuickBooks Pro

QuickBooks Pro has many built-in features to assist businesses in their accounting operations: 

  • Multi-Monitor Support: QuickBooks Pro allows licensed customers to take care of their business faster on three monitors. The program will allow three users of your business to operate with one licensed purchase. With this, a business can manage the list of customers on one screen, while tracking invoices and payments coming from the customer on the other two screens.
  • Past Due Stamp: Another attractive feature is that the program will automatically update a “Past Due” stamp over the invoices that have crossed their due dates. This feature will help in tracking debts and accounts receivables.
  • Search Chart of Accounts: This option enables the bookkeepers of a business to easily track any account or sub-account for speedy accounting.
  • Cash/Accrual Toggle: The software makes it easier to filter results with cash or accruals. This way, a business can compare their performance on a cash and accrual basis.
  • Payroll Liability Reminder: Another great feature is that it reminds a business of their upcoming liabilities.

QuickBooks Premier

QuickBooks Premier has almost every feature of QuickBooks Pro with a few additional, attractive features according to the needs of a business. The software has multiple versions that are tailor-made for a business, according to the industry they operate in. Businesses have the option of 6 industries to choose from, such as:

  1. General Business
  2. General Contracting
  3. Non-Profit
  4. Professional Services
  5. Retail
  6. Wholesale & Manufacturing

Additional Features of QuickBooks Premier

  • Multi-Monitor Support: Up to five users.
  • Inventory Reports: Flexible and customized inventory reports.
  • Search Chart of Accounts: Track any account or sub-account of the business.
  • Cash/Accrual Toggle: Compare performance on a cash and accrual basis.
  • With Pro, a business can easily get a snapshot of their customers.
  • The software allows accountants to use the Income Tracker feature which will show all unpaid dues of the company.
  • By using QuickBooks Pro, you can easily extract important data of your customers in an Excel format.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.